Ronin RON
About
What Is Ronin (RON)?
Ronin is an EVM blockchain specifically forged for gaming. Launched by Sky Mavis, the creator of Web3’s breakout title Axie Infinity which has generated over $1.3B in revenue, Ronin is the only blockchain proven to scale a single game to accommodate millions of daily active users and has processed over $4B in NFT volumes. Ronin optimizes for near-instant transactions and negligible fees that enable millions of in-game transactions to occur seamlessly, making it the leading choice for Web3 games.
In its first nine months, Ronin has racked up 250,000 unique daily active addresses, $5 billion in TVL, over 2 million wallet downloads, and 15% of all NFT transactions on the market. Its DEX Katana is the second-most popular decentralized exchange by weekly active users and allows users to swap tokens within the Axie Infinity ecosystem.
Who Are the Creators of Ronin?
Ronin was created by Sky Mavis, the team behind Axie Infinity and backed by top investors like Accel, a16z, Binance Labs, Animoca Brands, Paradigm, Libertus, Mark Cuban.
Cofounders include Jeffrey Zirlin and Alexander Leonard Larsen.
What Makes Ronin Unique?
Ronin is battle tested and scalable. In 2021 the Ronin processed 15% of all NFT trading volume and is the home of all Axie Infinity assets - Axies, Land, SLP and AXS. Ronin is second only to Ethereum when it comes to NFT sales by volume. While there are many other chains available, Ronin is the only platform proven to scale a single game to accommodate millions of daily users.
Ronin is hyper optimized for gaming and cuts out the bloat found in other permissionless blockchains. We put in effort to curate high quality apps and ensure there is minimal spam and high uptime for games.
Ronin is environmentally friendly compared to other chains. For comparison, one Bitcoin transaction uses as much energy as 695,505,316.31 Ronin transactions.
Ronin is backed by Sky Mavis, the creators of the #1 NFT project by adoption and all-time volume, Axie Infinity. Sky Mavis’ experience building and scaling Axie Infinity has given them unique insights into product development, community building, and go-to-market which can be leveraged by partners deploying on the network. Sky Mavis offers advisory support and grants to help reduce risk and improve odds of success for games looking to launch.
Ronin is secure. Due to Ronin’s massive traction and being pioneers in the space, Sky Mavis has been one of the first companies to face scaling roadblocks and security threats ahead of the rest of the market. In March 2022, Sky Mavis experienced The Ronin Validator Breach, where 173,600 ETH and 25.5M USDC were drained from the Ronin bridge. This breach was not due to a technical flaw, but a socially engineered attack by an elite group of hackers. This incident led Sky Mavis to become a fully antifragile, zero-trust organization. Sky Mavis has implemented rigorous internal security measures to prevent future attacks. All code has been fully reviewed and optimized, with security experts auditing the entire architecture. Audit information and security upgrade details can be found here.
How Many Ronin (RON) Coins Are There in Circulation?
RON was launched through a pool on its native Katana DEX without any private sales conducted and will be distributed through an incentivized liquidity program. Issuance will be reduced every quarter, and the total supply of RON is capped at 1 billion and will be reached 108 months after issuance begins.
RON is distributed as follows:
- Rewards (25%): staking and bridge incentives
- Community (30%): liquidity mining, content creation, rewards programs, grants, and hackathons.
- Team (30%): Sky Mavis
- Ecosystem fund (15%): grants, investments, and hackathons bringing game-changing content, applications, and tooling to Ronin.
Refer to the Whitepaper for more info: https://docs.roninchain.com/basics/tokenomics
Where Can You Buy Ronin (RON)?
RON is available on Katana DEX, OKX, and many other avenues.
Refer to Guide on Buying RON
If you want to learn more about how to start buying cryptocurrencies, you can read more in our guide.
AI Analysis
What is the Ronin (RON) cryptocurrency good for? What are its main use cases?
The Ronin (RON) cryptocurrency is the native token of the Ronin Network, a blockchain designed to support the Axie Infinity ecosystem and other decentralized applications (dApps). Originally launched as an Ethereum sidechain, Ronin has evolved into an independent blockchain optimized for gaming and Web3 applications. Here are its main use cases:
1. Gas Fees & Transaction Processing
- RON is used to pay for transaction fees (gas) on the Ronin blockchain, making it cheaper and faster than Ethereum for gaming and dApp interactions.
- Developers and users benefit from low-cost, high-speed transactions.
2. Staking & Network Security
- RON can be staked to secure the network and earn rewards, similar to other Proof-of-Stake (PoS) blockchains.
- Validators and delegators help maintain the blockchain’s security and decentralization.
3. Governance & Voting
- RON holders can participate in governance decisions, such as protocol upgrades, fee adjustments, and ecosystem developments.
- This ensures a decentralized and community-driven approach to Ronin’s future.
4. Axie Infinity & Gaming Ecosystem
- Originally built for Axie Infinity, RON is used for in-game transactions, NFT trading, and interactions within the Axie ecosystem.
- It supports play-to-earn (P2E) mechanics, allowing players to earn and spend RON in-game.
5. Cross-Chain Interoperability
- Ronin is connected to Ethereum via bridges, allowing users to transfer assets between chains.
- This enables cross-chain DeFi and NFT trading opportunities.
6. Developer Incentives & Ecosystem Growth
- RON is used to fund grants, bounties, and developer incentives to attract more projects to the Ronin blockchain.
- This fosters a growing ecosystem of games, DeFi, and NFT platforms.
7. Future Expansion & Use Cases
- Ronin aims to become a general-purpose blockchain beyond Axie Infinity, supporting more gaming and Web3 applications.
- Potential future use cases include NFT marketplaces, DeFi protocols, and metaverse projects.
Conclusion
Ronin (RON) is primarily useful for gaming, low-cost transactions, staking, and governance within the Ronin ecosystem. While it started as a sidechain for Axie Infinity, it is expanding into a broader blockchain for Web3 applications. If you're involved in play-to-earn gaming, NFTs, or DeFi, RON could be a valuable asset.
Would you like more details on any specific aspect?
What blockchain does Ronin use? Is it its own blockchain or built on top of another?
Ronin is a sidechain built on top of Ethereum, designed specifically for the Axie Infinity ecosystem. It was developed by Sky Mavis, the company behind Axie Infinity, to provide faster and cheaper transactions compared to the Ethereum mainnet.
Key Details:
Ethereum-Based Sidechain:
- Ronin is not a standalone blockchain but rather a separate blockchain that is interoperable with Ethereum.
- It uses a Proof-of-Authority (PoA) consensus mechanism, meaning a select group of validators (initially controlled by Sky Mavis) secures the network.
EVM-Compatible:
- Ronin is Ethereum Virtual Machine (EVM)-compatible, allowing developers to deploy Ethereum smart contracts on Ronin with minimal changes.
Bridge to Ethereum:
- Users can transfer assets (like ETH, ERC-20 tokens, and NFTs) between Ethereum and Ronin via the Ronin Bridge.
Security Incident:
- In March 2022, Ronin suffered a $625 million hack, leading to improvements in security and governance.
Current Status:
- Ronin has since transitioned to a Proof-of-Stake (PoS) model with a more decentralized validator set.
Summary:
Ronin is not its own independent blockchain but a sidechain built on Ethereum’s infrastructure, optimized for gaming and NFT transactions. It leverages Ethereum’s security and compatibility while offering lower fees and faster transactions.
Would you like details on how to interact with Ronin or its tokenomics?
Is Ronin programmable? Does it support smart contracts or decentralized applications?
Yes, Ronin is programmable and supports smart contracts and decentralized applications (dApps), but with some limitations compared to more established blockchain platforms like Ethereum.
Key Features of Ronin for Smart Contracts & dApps:
EVM Compatibility
- Ronin is built on Ethereum Virtual Machine (EVM) technology, meaning it can run most Ethereum-compatible smart contracts and dApps.
- Developers can deploy contracts written in Solidity or Vyper (like on Ethereum).
Ronin Virtual Machine (RVM)
- Ronin has its own virtual machine (RVM) that is EVM-compatible, allowing for seamless migration of Ethereum-based projects.
- However, RVM has some differences from EVM, so developers should test thoroughly.
Axie Infinity & Skyweaver Integration
- Ronin was originally designed to support Axie Infinity, a popular blockchain game, and later expanded to other dApps like Skyweaver.
- It has been used for NFT marketplaces, DeFi protocols, and gaming dApps.
Ronin Wallet & Developer Tools
- Developers can interact with Ronin using MetaMask (via custom RPC settings) or the Ronin Wallet.
- Tools like Hardhat, Truffle, and Remix can be used for smart contract development.
Limitations
- Ronin is not as decentralized as Ethereum, as it was initially a sidechain of Ethereum (now more independent).
- It has lower transaction throughput compared to Ethereum L2 solutions like Arbitrum or Optimism.
- Gas fees are generally lower than Ethereum but can vary.
Conclusion:
Ronin is programmable and supports smart contracts and dApps, making it suitable for blockchain gaming, NFTs, and DeFi projects. However, it is not as widely adopted as Ethereum or other major L1/L2 chains, so developers should consider its ecosystem size and scalability before building on it.
Would you like help with deploying a smart contract on Ronin?
How fast are Ronin transactions? What is the typical confirmation time and throughput (transactions per second)?
Ronin, the blockchain network used by the popular NFT game Axie Infinity, is designed to support high-throughput transactions with low fees and fast confirmation times. Here’s a breakdown of its performance:
Transaction Speed & Confirmation Time
- Typical Confirmation Time: Ronin transactions are usually confirmed within seconds (often under 5 seconds), making it much faster than Ethereum (which can take minutes or longer during congestion).
- Block Time: Ronin has a block time of ~5 seconds, meaning new blocks are produced every 5 seconds.
Throughput (Transactions Per Second - TPS)
- Theoretical Maximum TPS: Ronin can theoretically handle ~1,000+ TPS under optimal conditions.
- Actual TPS in Practice: During peak usage (e.g., during major Axie Infinity events), Ronin has processed hundreds of TPS, though sustained high throughput depends on network demand and validator performance.
Comparison to Ethereum
- Ethereum (Layer 1): ~15-30 TPS (slower and more expensive).
- Ronin (Layer 2): Optimized for gaming and NFTs, offering faster, cheaper transactions compared to Ethereum.
Key Factors Affecting Speed
- Validator Performance: Ronin uses a Proof-of-Stake (PoS) consensus mechanism, where validators process transactions quickly.
- Network Congestion: During high-demand periods (e.g., major Axie Infinity updates), confirmation times may slightly increase but remain faster than Ethereum.
Conclusion
Ronin is designed for fast, low-cost transactions, making it ideal for blockchain gaming and NFTs. If you're using Ronin for Axie Infinity or other dApps, expect near-instant confirmations and high throughput compared to Ethereum.
Would you like details on gas fees or security aspects as well?
How much data can I store on the Ronin blockchain? Does it support on-chain data storage?
The Ronin blockchain (used by Axie Infinity and other projects in the Sky Mavis ecosystem) is primarily designed for game assets, NFTs, and smart contracts, but it does not natively support large-scale on-chain data storage like some other blockchains (e.g., Filecoin, Arweave, or IPFS).
Data Storage on Ronin
On-Chain Storage (Limited)
- Ronin, like Ethereum, allows small amounts of data to be stored in smart contracts (e.g., NFT metadata, game state).
- However, storage costs are high (gas fees apply), and large datasets are impractical.
Off-Chain Storage (Recommended)
- Most projects using Ronin store large data off-chain (e.g., in IPFS, Arweave, or centralized databases) and only store hashes or references on-chain.
- Example: NFT metadata is often stored off-chain, with only a CID (Content Identifier) stored in the smart contract.
No Native Decentralized Storage
- Unlike Filecoin or Arweave, Ronin does not have built-in decentralized storage solutions.
- You would need to integrate with IPFS, Arweave, or a cloud service for large-scale storage.
Alternatives for On-Chain Data
If you need persistent on-chain data, consider:
- Ethereum (with Layer 2s like Arbitrum, Optimism)
- Polygon (with decentralized storage options)
- Filecoin or Arweave (for decentralized storage with blockchain anchoring)
Conclusion
- Ronin is not ideal for large on-chain data storage (due to cost and scalability).
- Use off-chain storage (IPFS, Arweave) + on-chain references for NFTs and game assets.
- For true decentralized storage, consider Filecoin, Arweave, or Ethereum L2s.
Would you like recommendations for specific storage solutions for your use case?
Contact Us About Ronin
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